Pakistan’s exports to Saudi Arabia increase 3.57pc to $365mn in 9 months

ISLAMABAD: Pakistan’s exports of goods and services to Saudi Arabia has witnessed an increase of 3.57 percent during the first nine months of financial year (2020-21) compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported.

The overall exports to Saudi Arabia were recorded at $365.240 million during July-March (2020-21) against exports of $352.620 million during July-March (2019-20), showing growth of 3.57 percent, SBP data revealed.

Meanwhile, on year-to-year basis, the exports to Saudi Arabia during March 2021 also increased by 11.26 percent, from $34.667 million against the exports of $38.573 million.

On month-on-month basis, the exports to Saudi Arabia However decreased by 23.70 percent during March 2021 when compared to the exports of $50.559 million in February 2021, the SBP data revealed.

Overall Pakistan’s exports to all countries witnessed increase of 2.29 percent in nine months, from $18.280 billion to $18.699 billion, the SBP data revealed.

On the other hand, the imports from Saudi Arabia into the country during the period under review were recorded at $1600.956 million against $1103.846 million last year, showing increase of 45.03 percent in nine months of this year.

Meanwhile, on year-to-year basis, the imports from Saudi Arabia during March 2021 rose by 225 percent, from $64.690 million last year to $210.287 million.

On month-on-month basis, the import from Saudi Arabia also increased by 6.90 percent during March 2021 when compared to the import of $196.704 million in February 2021, the SBP data revealed.

The overall imports into the all countries increased by 9.43 percent, from $34.136 billion to $37.356 billion, according to the data.